International banking system and method

• US 8,924,289 B1
• Filed: 01/17/2013
• Issued: 12/30/2014
• Est. Priority Date: 02/15/2000
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Knight, Nigel, Metherell, Mel, Parkin, Richard, Leong, Sang, Green, Les, Anders, Marc A., Baker, Richard, Chittick, Ian
• Primary Examiner(s): FELTEN, DANIEL S
• Application Number:
  US13/743,670
• Time in Patent Office: 712 Days
• Field of Search: 705/14.53, 705/35, 705/39, 705/40, 705/44, 235/379
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A system and method for providing banks with access to a previously inaccessible existing international infrastructure. A provider bank first establishes on its system, a set of accounts for each of the customers of a client bank. The client bank environment has its own Demand Deposit Account (DDA) module to process account entries and calculate interest and its own funds transfer module to initiate and to receive funds transfers. The primary interface into the funds transfer section in the client bank environment is to the funds transfer section of the provider bank environment. The funds transfer section of the provider bank is coupled to the systems which constitute the international banking infrastructure that is able to process banking transactions on a global basis for the customers of the client bank.

Claims

1. A system by which a provider bank performs lockbox processing for a plurality of customers of a client bank, the system comprising:

a central delivery point for receiving lockbox receipts on behalf of the plurality of customers of the client bank;

a provider bank environment established within the provider bank, the provider bank environment comprising;

a lockbox processing system, the lockbox processing system receiving the lockbox receipts from the central delivery point and generating credits with respect to the lockbox receipts,

a provider bank environment processor coupled to the lockbox processing system, the provider bank environment processor receiving the credits from the lockbox processing system; and

a client bank environment established within the provider bank, the client bank environment comprising;

a plurality of customer accounts corresponding to the plurality of customers of the client bank, and

a client bank environment processor coupled to the plurality of customer accounts, coupled to the client bank, and coupled to the provider bank environment processor, the client bank environment processor receiving the credits from the provider bank environment processor and applying the credits to corresponding ones of the plurality of customer accounts, whereby the client bank can offer lockbox processing services to the plurality of customers without having any lockbox processing capability within the client bank.

2. The system as recited in claim 1, further comprising at least one remote delivery point coupled to the central delivery point, wherein at least some of the lockbox receipts are received by the remote delivery point and forwarded to the central delivery point.

3. The system as recited in claim 1, wherein the lockbox processing system sorts the lockbox receipts by a customer account number.

4. The system as recited in claim 1, wherein the lockbox processing system sorts the lockbox receipts by currency.

5. The system as recited in claim 1, wherein the lockbox processing system images the lockbox receipts.

6. The system as recited in claim 1, further comprising a lockbox database coupled to the lockbox processing system, wherein data related to the lockbox receipts generated by the lockbox processing system is stored in the lockbox database.

7. The system as recited in claim 6, wherein the data includes images of the lockbox receipts.

8. The system as recited in claim 6, wherein the data includes financial data related to the lockbox receipts.

9. The system as recited in claim 6, wherein the client bank is coupled to the lockbox database and the client bank can access the data stored in the lockbox database.

10. The system as recited in claim 1, wherein there is a second client bank having a second plurality of customers, the system further comprising:

a second client bank environment established within the provider bank, the second client bank environment comprising;

a second plurality of customer accounts corresponding to the second plurality of customers of the second client bank, and

a second client bank environment processor coupled to the second plurality of customer accounts, coupled to the second client bank and coupled to the provider bank environment processor, wherein the second client bank environment processor and the provider bank environment processor operate to apply the credits to corresponding ones of the second plurality of customer accounts.

11. A method by which a provider bank performs lockbox processing for a plurality of customers of a client bank, the method comprising:

receiving lockbox receipts on behalf of the plurality of customers of the client bank, the lockbox receipts being received in a central delivery point;

establishing a provider bank environment within the provider bank, the provider bank environment comprising a lockbox processing system and a provider bank environment processor coupled to the lockbox processing system;

receiving, at the lockbox processing system, the lockbox receipts from the central delivery point into the client bank environment;

generating, by the provider bank environment processor, credits with respect to the lockbox receipts,

establishing the client bank environment within the provider bank, the client bank environment comprising a plurality of customer accounts and a client bank environment processor coupled to the plurality of customer accounts, coupled to the client bank, and coupled to the provider bank environment processor;

establishing the plurality of customer accounts within the client bank environment, the plurality of customer accounts corresponding to the plurality of customers of the client bank;

receiving the credits from the provider bank environment into the client bank environment; and

applying the credits to corresponding ones of the plurality of customer accounts, whereby the client bank can offer lockbox processing services to the plurality of customers without having any lockbox processing capability within the client bank.